Asian shares rose on Tuesday on hopes for further stimulus from the European Central Bank and the U.S. Federal Reserve, both of which hold policy meetings this week, but scepticism about the long-term effectiveness of any ECB actions capped the euro.
Tuesday, 31 July 2012
U.S.STOCK
US stocks finished mostly flat on Monday as investors paused following the best two-day run this year, with central bank meetings and a full load of US economic data looming.
U.S.TRSEARIES
Benchmark 10-year Treasury notes rose 13/32 in price on Monday to yield 1.50 percent, down from 1.55 percent late on Friday. The yield on Friday was the highest since July 10, while yields hit a record low of 1.38 percent on Wednesday.
FTSE
The FTSE 100 index closed up 66.42 points, or 1.2 percent at 5,693.63 points, just holding below the 5,700 level breached intraday for the first time in 10 days, though volume was modest at 69 percent of the 90-day daily average.
EURO
The euro bought $1.2260, having retreated from a three-week peak near $1.2400. Good support is seen around $1.2216, a level representing the 50 percent retracement of its July 24-27 rally.
BRENT CRUDE
Brent crude eased 8 cents to $106.12 per barrel by 0140 GMT after having dropped to a low of $105.78 earlier in the session.
SHANGHAI COPPER
The most-traded November copper contract on the Shanghai Futures Exchange rose 0.40 percent to close at 55,050 yuan ($8,600)a tonne.
LME COPPER
Three-month copper on the London Metal Exchange traded at $7,566 a tonne by 0104 GMT, up 0.23 percent from the previous session when it closed almost unchanged. Prices have recovered by 3 percent from last week's one-month lows but still remain in negative territory for the year.
COPPER
Copper traded little changed on Tuesday, underpinned by expectations the United States and Europe would introduce fresh easing measures, while a firm dollar and a low appetite for risk curbed gains.
SPOT SILVER
Spot silver rose to $28.28, its highest in nearly four weeks, before easing slightly to $28.12
SPOT GOLD
Spot gold was little changed at $1,621.40 an ounce by 0034 GMT.U.S. gold futures contract for August delivery traded nearly flat at $1,620.70.
GOLD
Gold held steady on Tuesday, as investors cautiously await the U.S. Federal Reserve's policy meeting later in the day which is expected to shed light on the bank's stance on monetary stimulus, a key factor driving bullion prices.
U.S.MARKET UPDATE
US stocks finished mostly flat on Monday as investors paused following the best two-day run this year, with central bank meetings and a full load of US economic data looming.
The Dow Jones industrial average dipped 2.65 points, or 0.02%, to 13,073.01 at the close. The Standard & Poor’s 500 Index edged down just 0.67 of a point, or 0.05%, to 1,385.30. The Nasdaq Composite Index fell 12.25 points, or 0.41%, to end at 2,945.84.
GM BULLION OPENING BUZZ
GM BULLION OPENING BUZZ :-
GOLD-29800
SILVER-53920
CRUDE-4985
COPPER-420.50
NICKEL-894
ZINC-102.55
LEAD-107.25
ALUMINIUM-103.35
GM GOOD MORNING BULLION MARKET UPDATE 31-07-2012
GOLD TREND BULLISH
STRATEGY BUY ON DIPS
S1- 29650, S2- 29450
R1- 30050, R2- 30150
SILVER TREND BULLISH
STRATEGY BUY ON DIPS
S1-53000, S2- 52000
R1- 55000, R2- 55800
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